All Forum Posts by: John S Lewis

@Gary Crawford why are you choosing Columbus, OH for a rental portfolio?  Do you have connections there?  Do you have a good realtor there?  

Hello - I'm looking for a general contractor that has done flips in the Toms River area.  Specifically in the age restricted communities.  Looking for good referrals.

Thanks.

Hey BP - has anyone used this site?  businesstrackrealty?  what is the feedback?

@Linda Weygant - so my situation is slightly different. I used a business LOC and a HELOC and some credit cards to fund my purchase and rehab. The bank I did the refi with cut my LTV at the last minutes so my proceeds didn't cover all the outstanding credit lines. How would I account for that in QBO? Also, what's with the escrow account? Is that for all the prepaids?

Thanks.

Hello BP - I'm doing a deal that is a double close.  My attorney suddenly doesn't want to create the transactional funding contract that I need to use with my private lender.  Does anyone have a transactional funding contract that I can use?  Thanks.

I'm looking for a private money partner for a recent acquisition that will be used as a buy, fix and hold investment.  Here are the numbers:

Purchase Price              $58,410

Expected Renovations $30,000

All in total                       $88,410

ARV $135,000

LTV ~65%

Expected Rent                                                                 1500 per month/ $18000 per year

Reserves for Vacancy, Taxes, Cap Ex, Maintenance                           ~    $  9000 per year

NOI ~ $ 9000 per year

I prefer to work with someone locally.   I live in Central NJ and will drive up to 1 to 2 hours to meet and discuss the deal further.  Please message me if you have an interest in holding a first lien position on this great deal.

Thanks.

NJ is the top state in the country for foreclosures still on the market and/or coming to market. These would be bank owned REO's. Are there any West coast investors that can't get inventory that would like to partner with me on some NJ deals? I do flips, and BRRR. Message me, and lets get to know each other.

I've been working with Brandon Kroon since the spring of this year. He is very attentive and always responds to my emails within 24 hours. Although I haven't reached the business credit amounts I was hoping for, they are still working at it, and I look forward to additional lines in the future.

Ok, so this is all confusing to me.  I think I'm trying to do the opposite.  A seller I know wants to sell me his property and do a 1031 exchange.  Can I buy the property and have him take back financing so he can still do the 1031 exchange?

Hey there BP!  Has anyone used turbotenant.com?  The post to multiple sites and also take applications.  Any feedback, positive or negative is greatly appreciated.

Thanks.